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Weight loss firm shares fall 23%
Shares of Danish company Zealand Pharma declined by up to 23% after new data on the safety of its experimental obesity drug was released. The report showed that 40% of patients reported side effects, including vomiting and nausea, which impacted the company's valuation in international markets. Although the drug, "survodutide," achieved the primary targets in the study, the high discontinuation rates and the drop in stock prices reflect significant challenges to its commercial potential, amid increasing competition from giant companies striving to dominate the obesity medication market.
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